- SafeMoon price continues to slowly rise, and this morning we saw a push to the 0.00004700 level.
- Yesterday's bullish consolidation took Litecoin to the $87.00 level.
SafeMoon chart analysis
SafeMoon price continues to slowly rise, and this morning we saw a push to the 0.00004700 level. It remains on the positive side above the EMA200 moving average. We expect this positive consolidation to continue and grow to a new daily level. Possible higher targets are the 0.00004800 and 0.00005000 levels.
For the bearish option, we need to pull back below the EMA50 and the 0.00004250 level. After that, we will fall into an area between the EMA50 and EMA200 moving averages. The price can easily fall with a new impulse and form a daily low. A drop below 0.00004000 leva will bring us closer to the weekly opening price. A new pullback below will only create a downtrend, and possible low targets are the 0.00003900 and 0.00003800 levels.
Litecoin chart analysis
Yesterday's bullish consolidation took Litecoin to the $87.00 level. We stopped there and started to pull back to the $83.50 level this morning. With new support, we are back above the EMA200, rising to $85.50. We are again on the upside and await a further recovery to the previous high level. Possible higher targets are $88.00 and $89.00 levels.
Further decline below the EMA200 will confirm that Litecoin lacks the strength to recover, and a price decline will follow. By falling to the $83.00 level, we have formed a daily low and are confirming the downward momentum. The next support level is located at $82.00. Failure to hold there creates a new downward impulse. Possible lower targets are the $81.00 and $80.00 levels.
